KAYNES Technology India has strong long-term earnings growth and good profit and revenue growth over recent years, supported by expanding electronics & EMS market trends.
The stock trades with a relatively high P/E but is backed by a firm order book and industry relevance.
Despite recent volatility and technical sell signals, some brokerages maintain positive long-term growth outlooks, and key quarterly results are due soon.
The stock has bounced off the recent low near 3300 after forming a double bottom, and is now approaching a historically important resistance zone at 3517–3568. Price action around this area will likely define the next directional move.
Bearish Scenario:
If KAYNES gets rejected at 3517–3568 and fails to hold, we could see a pullback toward 3427 — an important psychological and short-term support level, and the closest invalidation point for the bulls. If trades further down below 3427 then next target 3335
Bullish Scenario:
If price breaks above and sustains above 3568, that could unlock further upside with a target around 3690.
3427 will be a major pivot, bulls are likely to defend it strongly, and a clean break below with follow through selling would confirm bearish strength.
I am not sebi registered financial advisor.
The stock trades with a relatively high P/E but is backed by a firm order book and industry relevance.
Despite recent volatility and technical sell signals, some brokerages maintain positive long-term growth outlooks, and key quarterly results are due soon.
The stock has bounced off the recent low near 3300 after forming a double bottom, and is now approaching a historically important resistance zone at 3517–3568. Price action around this area will likely define the next directional move.
Bearish Scenario:
If KAYNES gets rejected at 3517–3568 and fails to hold, we could see a pullback toward 3427 — an important psychological and short-term support level, and the closest invalidation point for the bulls. If trades further down below 3427 then next target 3335
Bullish Scenario:
If price breaks above and sustains above 3568, that could unlock further upside with a target around 3690.
3427 will be a major pivot, bulls are likely to defend it strongly, and a clean break below with follow through selling would confirm bearish strength.
I am not sebi registered financial advisor.
Trade closed: target reached
Lower side stock hit targetupper side it easily hit my daily target of 1%
(I booked 1% only, each side)
Note
today again, kaynes got rejected from decisive zone and hit lower target from 3517 to 3427 and further 3356wonderful event is that Bulls again defended their level 3427 and closed day above it
Note
Yesterday I mentioned that bulls held sentimental level of 3427 and day closed above it and today stock massively hit upper target of 3690
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.